Abstract
In the last few years, the International Business has been hit by a global recession. Economists were talking about the current situation of some countries, companies or economic issues more or less close to a situation of recession. These comments were relayed by lots of public media and it started to become a common topic for everyone, ordinary people as well. Before going into the thick of things and evaluate the impacts of this current global recession, a definition of what a global recession is, is required. Actually, lots of definitions and point of views exist concerning this status of slowdown in the economy but all categorize quite the same things. The main difference is between on one hand, the Gross Domestic Product (GDP) as a reference, which is an indicator of economic activity and on the other hand, the United States view based on the National Bureau of Economic Research (NBER). When we take the GDP measure, it is actually based on the works of Julius Shiskin, a former economist and statistics professor who played a big role in the analysis of the business-cycle and economic statistics.
